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What does it cost to insure my truck?
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Trucks are the most popular vehicle type in the U.S. The Ford F-series has been the best-selling truck model for almost 50 years consecutively. However, General Motors (GM) sells more trucks than any other manufacturer in the country.Â
If you own a truck or are thinking about buying one, you might be wondering how much truck insurance typically costs. Because trucks have a higher value than sedans, average insurance rates are often more expensive. However, that doesn’t mean you can’t find an affordable policy.Â
In this article, we’ll share average rates for some of the most popular truck models in the U.S. and explain how you can get a cheaper insurance premium.Â
The cost of car insurance for a truck depends on a variety of factors. Your age, credit score, claim history, and driving record are just a few of the criteria that insurance companies use to calculate your personalized rate.Â
The type of truck you own also has a big impact on the cost of insurance. For example, the average premium for a Ford F150 is around $2,020 per year, which is much cheaper than the average rate for a Dodge Ram, which is around $2,200 per year.Â
In the table below, you can see the average annual insurance premiums for the most popular truck models in 2023.Â
Annual rates for a single 35-year-old male, estimated using public rate filings sourced from First Interpreter. Rates do not represent actual quotes. Accurate as of January 2024.Â
Many drivers pay their truck insurance premiums on a monthly basis. On average, the monthly cost of truck insurance is roughly $161 to $201. However, your monthly premium will depend on the type of truck you own, as well as personal factors (like your location and driving record)Â and your policy choices (like your coverage limits and deductibles).Â
Personalized rate estimates at the top insurance companies in your state
Your rates will vary based on where you live, your age, and other factors like your driving record
In general, truck insurance costs more than car insurance for sedans. This is because trucks tend to have a higher value and are more expensive to repair. If you ever need to make a claim, your insurance company will have to pay more to fix or replace your truck than it would the average sedan.Â
According to Kelley Blue Book (KBB), the average cost of a full-sized pickup truck in July 2022 was $63,012. On the other hand, the average price of a mid-size vehicle was just $32,322. Â
That doesn’t mean truck insurance is always more expensive, though. For example, the cost of car insurance for a 10-year-old used truck will probably be cheaper than the cost of car insurance for a brand-new sedan with all the bells and whistles.Â
There isn’t one truck model that is the cheapest to insure for all drivers. In addition to the make and model of your truck, other factors like your age, credit score, and insurance company will impact the cost of your policy. However, some trucks are cheaper to insure than others, based on average rate data.Â
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Trucks with cheap insurance:Â After analyzing recent rate data, we found that the Toyota Tacoma is the cheapest truck to insure, with an average annual premium of $1,940. Below, you can see which popular truck models have the cheapest average car insurance rates, based on rates for their base trim level.Â
The Toyota Tacoma, a rugged midsize pickup truck, blends durability with off-road capability. With a versatile bed, advanced tech features, and reliable performance, it's designed for both work and adventure. It comes in as the cheapest pickup truck to insure, likely due to its reliability and relatively low MSRP.
The Jeep Gladiator is a unique and capable midsize pickup truck that combines off-road prowess with practicality. With its removable roof and doors, it offers an open-air driving experience. State Farm, Auto-Owners, and Erie Insurance offer affordable rates and comprehensive coverage options.
The GMC Sierra is a reliable and versatile full-size pickup truck with a stylish and robust exterior. It offers a comfortable and feature-packed interior along with powerful engine options. For insurance coverage, companies like Geico, Auto-Owners, and Erie may offer affordable rates and comprehensive policies for GMC Sierra owners.
Trucks with more expensive insurance:Â Some trucks are more expensive to insure than others. According to our data, the Dodge Ram has the most expensive premium among popular pickup trucks, with an annual rate of $1,553. See below for the most expensive truck models to insure based on 2022 popular models.Â
The Dodge Ram is a rugged and powerful full-size pickup truck known for its towing and hauling capabilities. It features a bold and muscular design. Though they might be slightly pricier to insure, State Farm, Auto-Owners, and Erie Insurance offer competitive rates and affordable policies for Dodge Ram owners.
The Ford F-150 is a popular full-size pickup truck known for its durability and versatility. It offers powerful performance and a spacious interior. When it comes to insuring a Ford F-150, Progressive, Auto-Owners, and Erie Insurance are among the nationwide insurance companies that provide affordable coverage options.
The Chevrolet Silverado is a dependable and capable full-size pickup truck. It boasts a rugged design and offers various engine options for optimal performance. When it comes to insuring a Chevy Silverado, nationwide insurance providers such as Progressive, Auto-Owners, and Erie Insurance offer competitive rates and affordable coverage options.
Based on our research and analysis, the best insurance companies for trucks are Erie, Progressive, Auto-Owners, State Farm, and Geico. These companies also have some of the cheapest insurance rates, on average.Â
However, the best car insurance company for you depends on your coverage needs and personal situation. It’s important to shop around and compare multiple insurance carriers to find the best provider for you.Â
Ford
Popular Trucks:
1. Ford F-150
2. Ford Maverick
3. Ford Ranger
Chevrolet
Popular Trucks:
1. Silverado
2. Colorado
GMC
Popular Trucks:
1. SierraÂ
Dodge
Popular Trucks:
1. Ram
Toyota
Popular Trucks:
1. Tacoma
2. Tundra
Car insurance for trucks can be expensive. However, there are several ways you can lower your rates. Here are some strategies that can help you get a cheaper premium:
Take advantage of car insurance discounts: Many insurance companies offer discounts on your car insurance. Some common discounts include taking a defensive driving course, getting good grades in school, paying your premium in full, signing up for automatic payments, and having an anti-theft device in your car.
Bundle your auto and home insurance: Insurance companies often offer discounts on your insurance if you bundle multiple policies, such as auto and home insurance.
Maintain a clean driving record: If you have a clean driving record with no recent accidents or traffic violations, you might be able to qualify for a car insurance discount.
Compare rate quotes from different insurers: Car insurance companies charge different rates for coverage. Get quotes from several insurers to find the most affordable policy for your situation.
You can take our short quiz to see how much you can expect to pay to insure your truck.
Only tell us about factors that have the biggest impact on your rates. No email or phone number required.Â
We match you with top insurance companies and estimate how much you will pay at each.
Compare rates side-by-side to find the best rate for the right coverage.Â
There is no difference between car and truck insurance. Whether you own a sedan or a truck, auto insurance is a legal requirement in most states. You must carry a minimum amount of coverage based on your state’s unique laws.
Truck owners aren’t required to carry more insurance than sedan owners. You must meet the minimum coverage requirements in your state. However, if you lease or finance a truck, your lender may require you to have a full coverage policy.
Older trucks are generally cheaper to insure than newer trucks because they have less value. If you’re thinking about buying a truck and want to get the cheapest insurance premium, consider purchasing a used model.
If you own a diesel truck, it’s possible that your insurance rate will be more expensive. Diesel trucks usually have higher repair costs than gas trucks, which can increase the cost of insurance.
Rate Retriever rates are based on public rate filings obtained by analytics company First Interpreter. This data comes from the rating plans insurance carriers submit to each state’s department of insurance. Rating plans detail how each carrier calculates premiums using factors such as location, age, gender, and driving record, and they ensure that insurance premiums are both fair and competitive.Â
For the data on this page, we made the following assumptions: a 35-year-old single male with a clean driving record and Good credit score. We adjusted this profile by vehicle make, model, trim, and year to determine the rates you see on this page.
These rates are not actual quotes and should only be used for comparative purposes. Your rates can vary significantly based on your unique driver profile.Â
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